Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Agents help people buy and sell homes many times a year. The average person buys/sells a house every 6-8 years. Makes sense to use someone who has more experience, doesn't it?
BTW, I don't understand why more buyers on Long Island don't use an agent that represents them, as buyers, instead of an agent that represents the sellers.
Any comments?
Elke- your comments are right on target. And NO (to another poster here), a buyer broker will not negotiate a higher price to get a higher commission. Not if we have integrity, care about our reputation, and want to continue doing well in this business. We work for YOU, the buyer, and will serve your best interests. NOT jargon. It is the truth and it is how it works. If I mess with someone and they tell 3 other people (or 10 other people) I will never work in this field again. I did not go through weeks of training and many tests to kill it for a few hundred bucks.
Buyer brokerage is pretty much the only way I will work with a buyer. We meet and go out to see homes. After getting to know each other a little, I ask if they want to continue working with me (and I need to decide if I really want to continue working with them!) and we agree to work exclusively with each other. I always explain this option at first contact, but unless someone is family/friend/referral, I wait until we know each other better to sign them on. Yes, I get the advantage that my buyer must purchase through me. But my buyer has the advantage that I will negotiate on his/her behalf, share comparables for the area, actively look for homes in their desired area (have actually knocked on doors and sent letters), and get them their home for the best price.
I will ultimately do better (= make more money) by being fair to my clients. I get alot of referrals because of this.
As Elke said, the rest of the country works this way, LI is far behind. The problem is that many buyers believe that just because an agent shows them a few houses, they think that agent is looking out for them. They are not. At least they shouldn't be. That agent works for each homeowner for each house seen. That just does not make sense to me. I should work for the person I am spending time with. I still treat each homeowner with respect and fairness and honesty, but the homeowner is not my client (unless it is my listing, which is a different situation)
And NO (to another poster here), a buyer broker will not negotiate a higher price to get a higher commission. Not if we have integrity, care about our reputation, and want to continue doing well in this business. We work for YOU, the buyer, and will serve your best interests. NOT jargon. It is the truth and it is how it works. If I mess with someone and they tell 3 other people (or 10 other people) I will never work in this field again. I did not go through weeks of training and many tests to kill it for a few hundred bucks.
I will ultimately do better (= make more money) by being fair to my clients. I get alot of referrals because of this.
As Elke said, the rest of the country works this way, LI is far behind. The problem is that many buyers believe that just because an agent shows them a few houses, they think that agent is looking out for them. They are not.
Well said! And referrals - as in any business - are what it's all about!
I have a question, is a little different on these posts here.. but it is from a realtor from remax company.this realtor is the 'Landlord/owners realtor. I came in as rent to possibly buy after i regained my credit. So... I gave the realtor over the house i am suppose to be buying $2,600 to pay off my credit debt.. he recommened to do it so i gave him $2,600 in a cashiers check. He told me this is the amount I needed to clear up the credit debt. its been a year and nothing HAS been paid, he can't show receipts or anything that he says has been paid , After I ran my recent credit check, he hasn't paid anything. where did the money go? now he says his assistance did something with the money and now no longer works there. i told him today I need every receipt if he has paid anything and the rest of the money what is left back to my bank account. He says 'OK, but i will send you whats left after i charge you for the fee's that u owe me for the 2 credit builder loans I 'Told' you to go get from your bank. also fee for the 2 secure credit cards I 'told' you to go get, which I paid $250 for each credit card myself as a deposit. now what is it that he has done that i owe him for fee's?? I'm going to talk to a lawyer tomorrow about it all because nothing has been paid after a year and i still haven't received any receipts or money back. he told me if he were to get sued he is fully insured. do i have any chance of a case on this mess? what possibly can I get back from all this.
I would first call the Remax office ( find the office he is work out of from his card and then look up the office number on the internet and use that number, not the number on his card). I would call that number and ask for him. This will verify his employment. IF he does work there, which I seriously doubt, I would then ask for an appointment to see his manager or owner and tell them your tale. Please do this before you spend good money on an attorney.
There is no way a realtor is going to be able to clear your credit on your behalf. The cashiers check was made payable to whom? The "broker" I will bet. I am afraid you have been had.
the cashiers check was made to the realtor from remax. he does work there I have been to his office with him a few times, i am making a complaint to the remax company in the morning over this. I have asked other realtors about paying off clients debts and they have never heard of stuff like that. he is a real prick now that I told him I need receipts and the money thats left over. but i will do that first thing tomorrow and thank you for your time
the cashiers check was made to the realtor from remax. he does work there I have been to his office with him a few times, i am making a complaint to the remax company in the morning over this. I have asked other realtors about paying off clients debts and they have never heard of stuff like that. he is a real prick now that I told him I need receipts and the money thats left over. but i will do that first thing tomorrow and thank you for your time
I have been with my realtor since November 08 and he has shown me perhaps 20 houses. My price range is $250k-$320k and I am looking for a 3br 1.5 bth starter home in a few specific areas (Levittown, Oceanside, Lynbrook and similar town) He showed me one in Jan that I liked (Found it on my own on mlsli.com) - put in an offer, they regected but are back now because the other accepted offer fell through. I called him to put in a new offer but the problem I have is that I think my realtor is lazy (20 houses in 4+ months???), not a good negotiator and since I found the house to begin with and have found out everything about the property on my own (he pretty much just filled out the paper work) DO I need to continue using this guy? Can I legally represent myself? Now before I get people PO'd at me realize I am not looking to rip the realtor off but I feel if I called the sellers realtor I can close this deal within a day, instead of the week I am sure I will have to wait for him to either get back to me or actually do his job. Why should I lose this house because my realtor sucks? And since I did all the research and negotiating I am wondering why I can't rep myself - but again, is that legal?
Anyway - I don't need a new realtor....I am tired of hearing the same BS over and over again....the pressure of buying a house a horrible enough but when the person representing me is lazy, I can't accept that.
oh, Not in contract with my realtor, I am preapproved and have 20% to throw down for deposit and have a bank account that will not slow down getting a mortgage.....I just need a house!
Next time you find a house to look at on your own, call the LISTING REALTOR and ask to see it. Do not involve this other realtor at all. You do not need to. You can deal with the listing realtor of any house you find on your own, and that's that.
Since you involved him at first with this house you say whose approved offer fell through, you will have to go through him because technically he "showed" the house to you the first time and if you buy it, is entitled to a share of the commission. So you are stuck with him for this second offer.
I just noticed I said something similar to this in 2009! Who necromanced this thread??
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
